Why Pharmacies Like Walgreens, Rite Aid And Independents Are Dying

“Can you — should you — keep expanding at this pace?”

“Yes, we can… and yes, we should…. We would be crazy not to.”

Those words, from Walgreens’ 2005 annual report, capture the unshakable confidence of an industry that, at the time, looked unstoppable. Walgreens wasn’t alone in its optimism. Analysts were practically euphoric: prescription drug utilization was rising, the population was aging, the new Medicare Part D benefit was coming online, and a wave of higher-margin generic drugs promised to fatten profits. The future seemed clear, predictable, and bright.https://www.forbes.com/sites/sethjoseph/2026/01/12/why-pharmacies-like-walgreens-rite-aid-and-independents-are-dying/#klue-view-1268267